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Exercise 6-15 (Part Level Submission) Powder, Inc. sells an Xpert snowboard that is popular with snowboards enthusiasts. The following information shows Powder's purchases and sales
Exercise 6-15 (Part Level Submission) Powder, Inc. sells an Xpert snowboard that is popular with snowboards enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November: Unit Units Cost Unit Sales Price Date Transaction November 1 Beginning inventory 33 $298 21 303 5 Purchases 12 Sales 19 Purchases 22 Sales 25 Purchases (38) $472 41 309 (47) 30 310 40 470 Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a perpetual inventory system. (Round answers to o decimal places, e.g. 5,275.) FIFO Average Cost of goods sold Ending inventory s
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